Question

please answer me purchased goods for cash 15000 and for credit 10000 what will be its journal entry

Answer 1

purchase a/c dr. 25000.
to cash 15000
to creditor 10000

Answer 2

Explanation:

  purchases A/C Dr                    25000

   to Cash A/C                              15000

   to Creditors A/c                        10000

( Being goods purchased)  

Journal entry is conversation of financial transaction based on the rules of accounting. Purchases of goods and cash are assets and creditors are liabilities. Hence, according to golden rules of accounting for real accounts, debit what come in and credit what goes out.

Hence, purchases of good is coming to the organization which increases the stock (inventory is an asset) on other hand cash (asset) is going out since payment is made. Creditors are liabilities since, company owes money hence creditors have to be credited.